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30 Jul 2018 07:00
ASX Announcement
30 July 2018
ASX: OEX
AIM: OEX
Tranche 2 Update
Oilex Ltd (the Company) refers to the announcement on 30 April 2018 which advised that the Company had agreed with subscribers to amend the conditions precedent to Tranche 2 of the Placement originally announced by the Company on 12 December 2017. In particular, the date which the conditions precedent was required to be met was extended to 31 July 2018.
While the amendment to the Cambay Production Contract documentation is underway in the ordinary course, the Company does not consider that the conditions precedent for the A$1.75 Tranche 2 are capable of being met by the requisite date per the placing agreement, 31 July 2018. Accordingly, Tranche 2 of the Placement is not anticipated to be completed.
For and on behalf of Oilex Ltd
Mark Bolton
Chief Financial Officer Company Secretary
For further information, please contact:
Investor Enquiries Oilex Ltd Joe Salomon Managing Director Email: oilex@oilex.com.au Tel: +61 8 9485 3200 Australia | AIM Broker Cornhill Capital Limited Broker Daniel Gee Email: danielg@cornhillcapital.com
Tel: +44 20 3700 2500 UK | AIM Nominated Adviser Strand Hanson Limited Nominated Adviser Rory Murphy/Ritchie Balmer Email: oilex@strandhanson.co.uk Tel: +44 20 7409 3494 UK | Media Enquires (UK) Vigo Communications Public Relations Patrick d'Ancona/Chris McMahon Email: patrick.dancona@vigocomms.com chris.mcmahon@vigocomms.com Tel:+ 44 20 7390 0230 UK | Media Enquiries (Aus) Citadel-MAGNUS Michael Weir Email: mweir@citadelmagnus.com Tel: +618 6160 4900 Australia |
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